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Thursday, July 26, 2018

TrumpCare sabotage sees Skyrocketing Premium Increases in Wisconsin!

Don't spend it all in one place? Forget that little piece of advice.

Scott Walker's meager tax cut savings will now go straight into the gigantic increase in health insurance premiums coming in 2019, thanks to Trump's attempts to sabotage the Affordable Care Act. The ACA has seen so many dramatic changes, that it has rightfully earned the name TrumpCare.

Those changes have affected all insurance premiums in the Marketplaces.

CAP: The Trump administration has worked tirelessly to sabotage the Affordable Care Act (ACA). The U.S. Congress’ repeal of the individual mandate penalty and actions to expand the availability of skimpy short-term plans are raising premiums for middle-class families. The Trump administration also slashed funding for enrollment assistance by 72 percent and halted payments for risk adjustment, the federal program that discourages plans from avoiding sicker enrollees. Last year, Trump’s decision to end cost-sharing assistance payments resulted in staggering increases in 2018 marketplace premiums.

So how bad is it getting?

Based on rate information to date, the Center for American Progress estimates that an unsubsidized 40-year-old will pay an extra $970 in marketplace premiums on average in 2019 because of the end of the mandate and the expansion of short-term plans.

Here's a breakdown of the Trump Party's reforms resulting in ADDITIONAL premiums increases per Congressional District. Tax credits will soften the blow for those who still qualify:

Further attacks on the marketplaces, such as the Trump administration’s threat to halt risk adjustment payments and slash funding for enrollment assistance programs could force insurers to raise rates yet higher.

These estimates are based on projections by the Urban Institute of 2019 premium increases due to the Trump administration’s decision to allow for short-term junk plans and Congress’ repeal of the individual mandate. The Urban Institute’s projections account for individual states’ efforts to stabilize the individual market through reinsurance programs, coverage mandates, and regulation of short-term plans. To download the tables with the estimated premium increases attributable to ACA sabotage by congressional district, click here.